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Business Wars

Disney Under Seige | Peltz Strikes Back | 2

Business Wars

Wondery

History, Business, David Brown, Management

4.613.2K Ratings

🗓️ 18 December 2024

⏱️ 40 minutes

🧾️ Download transcript

Summary

When CEO Bob Iger fails to reassure Wall Street about his plans for Disney’s traditional TV operations, Nelson Peltz seizes the chance to launch a fresh attack on the Magic Kingdom. And this time, he won’t back down.

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Transcript

Click on a timestamp to play from that location

0:00.0

Wonderry Plus subscribers can binge all episodes of business wars Disney Under Siege early and ad-free right now.

0:06.8

Join Wondry Plus in the Wondry app or on Apple Podcasts.

0:14.5

It's July 2023, and the most powerful executives in the world of media, finance, and tech are in Idaho for the annual Sun Valley Conference, an invite-only gathering where billionaires mingle, talk trends, and initiate mega-deals.

0:34.5

And among those attending is Disney's CEO Bob Eiger. The 72-year-old follows his assistant through the

0:41.2

resort hotel. He's wearing a designer pullover while holding a plastic bottle of water. He waves,

0:47.7

nods, and smiles at the familiar faces he passes. The assistant quickly turns to brief him

0:52.7

while they walk. Okay, we've got CNBC next, David Faber's interviewing.

0:57.4

Likely questions will be latest results, stock price, linear television.

1:02.2

Iger nods.

1:03.7

It's been eight months since he returned Disney and the honeymoon's over.

1:08.0

He might have warded off Nelson Pelt's attempt to stir a shareholder revolt,

1:12.3

but the turnaround he promised is yet to happen. Disney's stock price has fallen 16% in a year,

1:19.0

and investors are questioning if Igers up to the job. So he's planning to use an interview with

1:24.4

CNBC's show Squawk Box to reassure Wall Street that he's not some old

1:29.5

media dinosaur pining for the glory days of broadcast in cable TV.

1:36.1

The assistant leads him out of the building.

1:38.5

On the courtyard he sees CNBC's setup, three cameras and two camping chairs arranged so viewers will see the mountains of Idaho

1:45.8

in the background. Iger greets Faber, raises his arm so a sound engineer can wire him up with a

1:51.7

microphone, and settles in for an interview. Cameras roll. Faber checks his notes and looks at Iger.

1:58.7

Let me ask you about it. We're talking, I guess, ABC, the network, the stations, but then the cable networks as well.

2:05.5

Yes, correct.

2:06.1

FX, NatGeo.

...

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